Monday 11 February 2019 12:34 am

HSBC chair Mark Tucker set to head up influential City lobbyists TheCityUK

The chairman of HSBC Holdings has emerged as the frontrunner to head the board at one of the City’s main lobby groups replacing fellow banker John McFarlane.

Mark Tucker is set to be announced for the role at TheCityUK in the coming days as outgoing Barclays chairman McFarlane steps down in the spring, Sky News reported.

It would install him as chairman of a group whose financial and professional service members contribute nearly 10 per cent of the UK’s economic output and employ 2.3 million people, including around 750,000 in London.

Its board includes deputy London mayor for business Rajesh Agrawal, the chief executive of Metro Bank and the chief operating officer at Morgan Stanley’s international arm.

Tucker was appointed to HSBC’s board in 2017 after 30 years in financial services, including 25 based in Hong Kong.

He has been chief executive of life insurance group AIA, and finance director at HBOS and served on Court of the Bank of England between 2009 and 2012.

TheCityUK is also expected to find a replacement for Prudential chairman Paul Manduca, who is set to leave his role chairing the lobby group’s advisory council later this year.

TheCityUK did not reply to requests for comment last night.